Professional services organizations such as law practices, accounting businesses, engineering companies or architectural firms gain significant benefits from having an effective enterprise resource planning (ERP) solution.
Choosing an ERP that provides greater operations visibility, better communication and easier financial reporting lets principals and other staff to focus on core work.
Are you wondering whether it’s the time to invest in an ERP for professional services businesses? Four reasons why the answer is “yes” are below.
1. Operational visibility
With a professional services ERP, your firm will have a “single source of truth.” All users across the business will be using and reporting on the same data and documents. Siloed work disappears with a unified solution. This means essential functions such as project finances, resource scheduling, KPI reporting and other critical operations are consistent and synchronized with real-time data.
2. Improved communication
Using a central ERP provides for instant and seamless communication among employees and with clients. With continuous connectivity, employees can communicate with each other and clients across locations internationally. Access to data on mobile devices via apps helps external and in-office staff to collaborate in real time to boost reaction time to client inquiries or concerns. Reporting tools give you a complete view of the client relationship, no matter with whome they are interacting.
3. Accurate financial reporting
With data fed from decentralized sources into an integrated ERP, financial reporting is more accurate and timely. With all transactional, contact and outcomes data in one system, key stakeholders have a complete and consistent view of firm finances. On-demand reports provide needed information in the moment to provide accurate revenue, cost and profit information.
4. Flexibility and scalability
You need an ERP that can adjust to increases in demand or additional services. With a professional services ERP, you can adapt to changing market conditions or customer demands quickly by adding capacity or new features. You want a solution that will not slow down your growth plans but complement them.
An ERP built for professional services firms
Acumatica’s ERP for professional services is built to address some of the most pressing challenges facing your business, including:
- Maintaining strong relationships with clients
- Bidding on and closing on new work
- Delivering projects on time and on budget
- Meeting growing client demands for more services
- Offering competitive prices while maintaining strong profit margins
With Acumatica, you’ll have access to a suite of integrated tools designed to address key needs for your firm. Among core features are:
- Customer Relationship Management. Sales automation, integrated marketing and a customer self-support portal give tools to serve clients better. Get a complete 360-degree view of your business with integrated financials, marketing and service.
- Time and Expense Management. Track time spent for clients, employees, contracts and projects with mobile time entry capabilities.
- Business Intelligence. Reporting tools drawing on real-time data for insights on projects, clients and KPIs.
- Integrated Financials. Manage your entire financial department within the ERP, using a single source of truth for general ledger, accounts payable and receivable, deferred revenue, tax management and human resources.
Integrating your company’s operations in an ERP designed to address critical industry needs is why so many professional services firms choose Acumatica. At NexTec, we help companies identify the right business software, develop an implementation plan, and optimize your investment. Find out how Acumatica stacks up against the leading systems on the market in this free report.